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RMS  HK

Defending Your Receivable is Our Mission

Case Study: Global Recovery Service for Asian Electronics Manufacturer

2/11/2022

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​By leveraging RMS Global Recovery Service, RMS has successfully recover an outstanding debt of HK$2.5M on behalf of a client, an Asian manufacturer of specialized electronic parts and equipment, from a U.S. based consumer electronics distributor.
Industry:Asian Manufacturer of Specialized Electronic Parts and Equipment
Solution:Dispute Resolution, Collection Letters, and 3rd Party Collections Calls
Results:A full settlement agreement of HK$2.5M was reached and paid within 2 months
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Summary
Though their sales were increasing, this Asia-based manufacturer began noticing a decrease in their cash flow. Upon investigation, a large outstanding debt of HK$2.5M was found from a Fortune 500 U.S. based consumer electronics distributor. Not able to work efficiently across some of the geographical barriers presented, this manufacturer approached RMS for help and support in collecting this debt.

​Customer Profile
This company is a world leader in the manufacture of specialized electronic parts and equipment used in, or with, computer and telecommunication systems. With both their headquarters and manufacturing facilities based in Asia, they have steadily been expanding their sales throughout the U.S. and Europe, doing business with the top industry names throughout the world including several on the Fortune 500 list.
RMS Solution
Experts from the RMS Hong Kong begin reviewing and organizing the credit history of the case so that the documentation could then be transmitted to RMS’ headquarter in the U.S. There, RMS senior collections staff were assigned to contact and work with the debtor to resolve the debt.
  • Discussion has been opened with the debtor to identify and resolve any dispute issues.
  • DebtAlert Collection Letters have been sent to the debtor to escalate the seriousness of the debt and the urgency of them needing to make payment.
  • Telephone calls, from RMS’ professional and highly trained collectors, have been conducted to the debtor with RMS identifying themselves as a collection agency employed to resolve this situation.

Results

Despite the fact that the debtor had been unresponsive to the creditor in their over 9 months of attempting to speak with them about this outstanding sum, RMS was able to contact and speak with them promptly. No dispute was identified and facts were reviewed concerning orders, shipments and invoices.
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  • RMS negotiated a settlement agreement for full payment of the debt which was signed by both parties.
  • Payments were split into 2 instalments.
  • Defined a time-line for the payments.
  • During negotiations, in order to escalate the urgency for payment, both DebtAlert Collection Letters and collection calls were sent and conducted to the debtor’s finance department.
  • The working relationship between the creditor and debtor was not negatively impacted by the collections process.
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